No matter how many billions of dollars he accumulates, private equity billionaire Steven Schwarzman will never live down his ultra-lavish 60th birthday party in 2007, which now stands as one of the ultimate symbols of the excesses of the pre-recession gilded age of finance, and also of how Steve Schwarzman is a pretty unwavering prick. How are the finance titans of these post-recession times demonstrating that they learned their lesson. They're not! Trick question.
Dealbook reports today on the 60th birthday party of financier Leon Black (pictured), who runs a $72 billion private equity firm. Black's party should not be confused with Schwarzman's fiasco—Black had Elton John perform, rather than Rod Stewart. A "foie gras station!" A star-studded guest list! And a sober sense of propriety, amongst the guests:
Before the concert, around 8 p.m., as a full moon rose over the Atlantic, [Goldman Sachs head Lloyd Blankfein] and [Steven] Schwarzman stood at the foot of the stairs leading down to the beach. Guests overheard Mr. Blankfein playfully ribbing Mr. Schwarzman about his fin de siècle affair.
"Your 60th got us into the financial crisis," Mr. Blankfein is said to have told the private equity titan. "Let's hope this party gets us out of it."
Then Steve Schwarzman was like "That's hurtful man" and Lloyd Blankfein was like "Look Steve this is just a quote manufactured by spin doctors to humanize the both of us" and then Schwarzman was like "Ohh, gocha" and then they both chuckled and stripped off their human skin to revel the lizards beneath.
[Dealbook, photo via Getty]